News | 07.21.20
Climate Change Poses "Systemic Threat" to the Economy, Big Investors Warn
Climate change poses a systemic threat to financial markets, according to a letter signed by more than three dozen fund managers and other financial institutions that together manage almost $1 trillion in assets. The letter urges regulators to “explicitly integrate climate change across your mandates.” Ceres Accelerator for Sustainable Capital Markets, which organized the letter, calls on regulators to adopt the steps Ceres outlined last month in a report that makes 51 recommendations to eight federal agencies. At its core are two demands: that the agencies treat climate change as a systemic risk, and that the SEC ensures mandatory and consistent disclosure of climate threats facing companies.
Read the full article on New York Times.